https://www.taxtmi.com/caselaws?id=272180 The Tribunal partially allowed the Revenue's appeals, upholding penalties on additional income disclosed post-search and certain additions made during assessment proceedings. However, it confirmed the CIT(A)'s deletion of penalties on notional and estimated additions, emphasizing the need for concrete evidence of actual income for penalty imposition. The judgment underscores the stringent application of Explanation 5A to section 271(1)(c), reinforcing the principle that income disclosed post-search is deemed concealed if not reported in original returns. en-us Fri, 29 Jan 2016 00:00:00 +0530 Mon, 29 Feb 2016 10:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272180 The Tribunal partially allowed the Revenue's appeals, upholding penalties on additional income disclosed post-search and certain additions made during assessment proceedings. However, it confirmed the CIT(A)'s deletion of penalties on notional and estimated additions, emphasizing the need for concrete evidence of actual income for penalty imposition. The judgment underscores the stringent application of Explanation 5A to section 271(1)(c), reinforcing the principle that income disclosed post-search is deemed concealed if not reported in original returns. Case-Laws Income Tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272180